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the sfmta, mr. chairman, that is a totaly voluntary agreement so that bart does not have to enter into the agreement the feeder agreement or where the sfmta is getting a payment. it's totally voluntary. * that is in contrast to the fast pass agreement. on page 7 of our report regarding the -- regarding that feeder agreement as shown in table 1 on page 7 of our report, that without the 5% annual cap on the payment increases, the payments would increase approximately 6 percent annually, and would result in a total of $33.3 million in payments in bart through sfmta. that is an increase of about 1.2 million in payments over the term of the proposed feeder agreement with the 5% cap in place. and while we believe that the 5% cap is reasonable, we note that there is currently no floor limiting how much the annual payments by bart and sfmta would decrease over the ten-year term. so, that's why we've made a recommendation regarding that issue. on page 8 of our report, we point out that as shown in table 3, the -- based on the estimated payments for both the proposed fast pass and feeder ag
be annual payments from bart to sfmta and then we recommend that you approve that resolution as amended. regarding the fast pass agreement, 12 11 87, we recommend you amend the resolution to impose to reduce the cap from 14 million to 10.5 million for a reduction of 3.5 million. and then i would also point out that we did not recommend approval of that agreement. we say that approval is a policy matter as amended. >> thank you, mr. rose. and a few questions the clerk and city attorney understand that the file has already reflected the revised formula for corrected payment so we do not need to make that amendment ; is that correct? >> that's correct. >> okay. and, mr. rose, just in thinking about this, putting a 5% floor since the contract is based upon a cpi, assuming a 5% deflationary annual number, is that correct? this would be protective of deflation of 5% or more every year? >> that is [speaker not understood] for changes in rider ship. formula includes rider ship. >> thanks, okay. >> colleagues, any questions of the budget legislative analyst? thank you very much. appreciate your
as the director of the sfmta and right before my counterpart at bart [speaker not understood] started her tenure as the general manager there. at that time there were some concerns raised by the budget and finance committee and sent it to agencies back with some direction in terms of what they wanted to see including bringing both of these agreements together and then some specific provisions or at least guidance. when grace and i first assumed our respective duties in late 2011, we got together and this was one of the first things we talked about because even at that time these agreements were in arrears, what were past expiration. the two agencies were withholding payment from each other and we decided as the new kid on the block that we needed to get together, take heed of what the message and direction we got was from the board of supervisors and get these agreements done so that we can move forward. we fairly quickly were able to come to agreement in principle on the shape of these two agreements. and while i recognize and appreciate the intent of the board of supervisors to hear these two
. so, that is, that is what sfmta would look at going forward should we not reach some other type of reimbursement rate. so, and again, we anticipate taking a renewal of the fare increase program to our board, but as of yet we haven't taken it and they haven't acted on it. >> thank you very much. i was wondering if i could ask mr. rifkin just a follow-up question. and, again, i really appreciate all the work that's gone into this. i think it's great that we are where we are. i just think that, you know, there's some questions that remain. maybe you said this already and i apologize. but for the benefit of people who are here watching, where is the mta's payment with respect to the fast pass agreement? is that coming out of operating budget? >> these are all operating budget item. >> and how much more would -- or last, you know, would the mta be paying annually under the term of this agreement? >> i believe -- is it the fy '12? yeah. on the summary sheet, it's the information we provided, we'd be going on the fast pass from 7-8 to 9-1 for the last fiscal year. from about 2.6 to 2.7
. >> i think it was the sfmta [speaker not understood]. i think it was the sfmta's understanding that we would do this one time and then go forward from here it would be based on cpi. so, this agreement would take us to 2014 based on that formula. but i understand, i understand what you're saying. * there. for the feeder agreement, historically it's been based on a different methodology. when it was originally conceived in the mid 1980s, it was based upon the actual number of feeder trips that would [speaker not understood] at that point, multiplied by the net cost per passenger. and that cost per passenger was basically the total amount cost minus the fare revenue that we got. the budget and legislative analysts in their report last year calculated that would be approximately $15 million under that same methodology. in 1989, both parties agreed to -- at that point to transition over to a sales tax based methodology. and one of the issues there was that the sales tax methodology was easier to do because we could not count ridership. we didn't have any way of tracking that ridership elec
Search Results 0 to 4 of about 5